| 1 |
Which letter of credit is issued for a single or particular transaction: |
- A. Fixed
- B. Revocable
- C. Red clause
- D. Green Clause
|
| 2 |
I Owe You is a written instrument drawn by |
- A. Trader
- B. Debtor
- C. Creditor
- D. All the above
|
| 3 |
What does IOU mean |
- A. I am a debtor to you
- B. I am a creditor to you
- C. Both a and b
- D. None of these
|
| 4 |
The important types of banker's letter of credit: |
- A. Two
- B. Three
- C. Four
- D. None of these
|
| 5 |
Which of the following is useful in facilitating trade relation between the businessmen of different countries |
- A. Bank draft
- B. Money order
- C. Letter of credit
- D. Stock certificate
|
| 6 |
Stock certificate is a document issued by |
- A. Commercial bank
- B. Central bank
- C. Limited companies
- D. Stock-market
|
| 7 |
Which letter of credit is automatically renewed by fulfilling certain conditions |
- A. Fixed
- B. Documentary
- C. Confirmed
- D. Revolving
|
| 8 |
Which one can be crossed : |
- A. Money order
- B. Postal order
- C. Credit card
- D. All of the above
|
| 9 |
What does the bank receive on issuing a letter of credit: |
- A. Profit
- B. Interest
- C. Commission
- D. Duty
|
| 10 |
The letter of credit which can be endorsed to another person is called: |
- A. Special L.C
- B. Transferable L.C
- C. Resolving L.C
- D. None of the above
|
